Egyptian Tourah Cement Co H1

22 September 2004

The net profit of Egyptian cement company Tourah Cement Co soared 612.5 pct year-on-year to 85.04 mln Egyptian pounds ($13.7m) in the first half of 2004. The growth in earnings followed a 33.5 pct upsurge in operating revenue to 281.93 mln pounds ($45.3m), coupled with a 1.4 pct increase in the cost of sales to 173.15 mln pounds ($27.8m). As a result, gross profit jumped to 108.77 mln pounds ($17.5m) from 40.38 mln pounds ($6.5m). Tourah Cement was established in 1927 and was listed on the Cairo and Alexandria Stock Exchanges (CASE) in 1995. Egyptian cement producer Suez Cement owns some 67 pct in the company.